Resolution 2025-277RESOLUTION NO. 2025- 2 7 7
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, APPROVING THE ISSUANCE OF NOT
EXCEEDING $41,500,000 MULTIFAMILY HOUSING REVENUE BONDS,
SERIES 2025 (WAVE AT ROSE) PURSUANT TO CHAPTER 159, PART IV,
FLORIDA STATUTES, AS AMENDED.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER
COUNTY, FLORIDA:
Section 1. Recitals. It is hereby found, ascertained, determined and declared that:
A. The Housing Finance Authority of Collier County (the "Issuer") is a public
corporation of the State of Florida, was duly created by Ordinance No. 80-66 of the Board of
County Commissioners of Collier County, Florida, and is a body corporate and politic duly
created and existing as a local governmental body and a public instrumentality for the purpose
of assisting qualifying housing projects situated in Collier County, Florida (the "County"),
under and by virtue of Chapter 159, Part IV, Florida Statutes, (the "Act"). to provide for the
issuance of and to issue and sell its obligations for lawful purposes under the Act.
B. The Issuer has submitted to the Board of County Commissioners a copy of its
Resolution 2025-04 (the "Authority Resolution"), attached hereto as Exhibit A, with respect
to the issuance by it of not to exceed $41,500,000 Housing Finance Authority of Collier
County Multifamily Housing Revenue Bonds, Series 2025 (Wave at Rose) (the "Bonds").
C. A public hearing was held on the Authority Resolution on March 6, 2025,
which public hearing was duly conducted by the Issuer upon reasonable public notice, a
copy of said notice being attached as Exhibit A to the Authority Resolution, and at such
hearing interested individuals were afforded the opportunity to express their views, both
orally and in writing, on all matters pertaining to the location and nature of the proposed
project and to the issuance of the Bonds.
D. The Issuer has recommended and requested that the Board of County
Commissioners approve the issuance of the Bonds so that the interest on the Bonds will be
exempt from federal income taxation under applicable provisions of Section 147(a) of the
Internal Revenue Code of 1986, as amended.
E. The Authority Resolution shows that the Issuer has acted in accordance with
all applicable requirements of law, and that the issuance of the Bonds will serve significant
public purposes as provided in the Act.
F. The purpose of the Act will be effectively served, and it is necessary and desirable
and in the best interest of the County that the issuance of the Bonds be approved by the Board of
County Commissioners.
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G. The Bonds shall not constitute a debt, liability or obligation of Collier County, its Board of
County Commissioners, officers, agents or employees, or the State of Florida or any political
subdivision or municipality thereof, but shall be payable solely from the revenues provided
therefore, and neither the faith and credit nor any taxing power of Collier County, or the State of
Florida or any political subdivision or municipality thereof is pledged to the payment of the
principal of, premium, if any, and interest on the Bonds. No member of the Board of County
Commissioners of Collier County or any officer, agent, or employee thereof shall be liable
personally on the Bonds by reason of its issuance.
H. Section 196.1978(4) Florida Statutes, 2025, provides for an ad valorem property tax exemption
for certain newly -constructed multifamily residential housing facilities if certain requirements are
met, including the recording of a Land Use Restriction Agreement with a local housing finance
authority requiring that the property be used for 99 years to provide affordable housing for
persons or families meeting the extremely -low income, low-income, or moderate -income limits
specified in s. 420.0004 Florida Statutes.
Section 2. Approval of Issuance of the Bonds. The issuance of the Bonds as contemplated
by the Authority Resolution is hereby approved, however this approval shall in no way be deemed
to abrogate any regulations of the County and the project contemplated by this resolution shall be
subject to all such regulations, including, but not limited to, the County's Growth Management
Plan, all concurrency requirements contained therein, and the Collier County Land Development
Code. The approval granted hereby shall also include authorization for the Authority to enter into
a Land Use Restriction Agreement, which contains, among other things, provisions complying
with the requirements of Section 196.1978(4) Florida Statutes, 2025.
Section 3. Repealing Clause. All resolutions, including, but not limited to, Resolution
2025-85, or orders and parts thereof in conflict herewith, to the extent of such conflict, are hereby
superseded and repealed.
Section 4. Effective Date. This Resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED THIS 9th day of December, 2025.
Kinzel, Clerk of Courts
Attest a6 t0 Cho , Deputy Clerk
ApprovcVl tofffm and legality:
Jeffrey AlKlatlkov�, County Attorney
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BOARD OF COUNTY COMMISSIONERS
OF COLLIER COUNTY, FLORIDA
By:
IF _Afffc-dr 41 -fel—1
Burt L. Saunders, Chairman